Proposal to list PHA on the HydraDX Omnipool
Ended 11mos ago
closed
Description

Requested Amount: 1,000,000 PHA (~$105k at time of writing)

Abstract

  • We propose to use PHA from Phala treasury and provide it cross-chain into the HydraDX Omnipool as an LP position controlled by the Phala governance. The intent is to seed initial liquidity and start trading PHA in the HydraDX Omnipool 6 natively and efficiently within the Polkadot ecosystem.

Abstract

  • We propose to use PHA from Phala treasury and provide it cross-chain into the HydraDX Omnipool as an LP position controlled by the Phala governance. The intent is to seed initial liquidity and start trading PHA in the HydraDX Omnipool natively and efficiently within the Polkadot ecosystem.

Motivation

  • Users will be able to trade native PHA within the dotsama ecosystem.

Omnipool will allow:

  • Trading PHA vs. any other asset in the Omnipool (currently HDX, DOT, DAI, ZTG, wETH, iBTC, wBTC, native USDT, USDC, VDOT, ASTR, INTR, CFG, BNC, + a lot more in the pipeline)
  • Single-sided LPing
  • OTC trading
  • Cross-chain transfers
  • Liquidity-mining
  • DCA (dollar-cost averaging) - allowing your supporters to gradually accumulate PHA during the bear market
  • Dynamic fees - improving potential profitability of your position in the Omnipool
  • Stableswap pools - gateway of liquidity for the eco

Key Terms

  • PHA will be provided as an LP position into the Omnipool - trustlessly and without losing control of the funds. The PHA position can be withdrawn at any time by the Phala governance and PHA sent back to its treasury. All made possible by XCM.
    Important fact to realize is that this model is superior to alternatives, where teams have to spend capital to be listed on CEXes or aquire the other half of the pair for seeding common fragmented XYK pools on other DEXes.

Overall Cost

  • There is no direct cost for the treasury. The LP position if withdrawn can end up in a profit or loss which depends mostly on accrued trading fees and Impermanent Loss in Omnipool suffered during LPing.

Use of Treasury Funds

Phala governance approves & executes a proposal to send 1,000,000 PHA via XCM to the [HydraDX Omnipool account] (7L53bUTBbfuj14UpdCNPwmgzzHSsrsTWBHX5pys32mVWM3C1, a system account with no private key)

HydraDX governance launches a council motion which is fast-tracked and enacted in 3-4 hours

After step 2 is complete, PHA becomes tradeable within the Omnipool. Sender (i.e. Phala sibling account 7LCt6dFt6z8V3Gg41U4EPCKEHZQAzEFepirNiKqXbWCwHECN), is set as the LP position holder so the position can be controlled via XCM Transact calls.

Optionssingle

Votes·17

461b...bWJ5
461b...bWJ5
461biZij9573cdeKYTjBg4yjCYcNDczrG8dqa3uoSUJ7bWJ5
yes
# 1
24.93 PHA
42yH...EjBV
42yH...EjBV
42yHNqpRKAawNSvmXJpnEh7jGArwz2pkGfH9KEHcE7WnEjBV
yes
# 1
275.62 PHA
A great possibility to have PHA and many more :)
44ZN...V67H
44ZN...V67H
44ZNVKWSAa6ik3Ac6wnr1VB6C3XuGi6yW2ZqRifEh3qwV67H
yes
# 1
19.91 PHA
44nJ...X3zP
44nJ...X3zP
44nJq7rvexEPfdAzJUCJb619qhch9oJGcbRaxNCaNLjWX3zP
yes
# 1
1.31 PHA
that would be awesome, will DCA into PHA if this proposal passes
45yW...V4zk
45yW...V4zk
45yWNBqdc3z64tw5pg9zZhrcjdytXcmD9utmKLnzNhk7V4zk
yes
# 1
0.07 PHA
In favor !!!
45NB...GNC8
45NB...GNC8
45NBAg8po1zy9KJGicefaJQNTRpYo1fcHMe8weN5WmMQGNC8
yes
# 1
300.65 PHA
45vo...cB4M
45vo...cB4M
45vo82ABupacJoafLRW8oVWiYyErk9UqZLpfBn8wtE1zcB4M
yes
# 1
6.54K PHA
100
42AV...znsw
42AV...znsw
42AVJryuSxmcH7dSRhW4zWA8ZbzJLZWW9UuMRZiuRQyeznsw
yes
# 1
0.52 PHA
0.5
45bz...ABgN
45bz...ABgN
45bzUni1cbqNjVWYrhmYsu68LWUPpBg9bcrPDYqmQarjABgN
yes
# 1
17.36 PHA
43ea...aS2p
43ea...aS2p
43eaN9ye29zrKuDeCb6zBM71d4SQJNVqqUwtdEM3uvANaS2p
yes
# 1
9.94K PHA
46L6...sLUt
46L6...sLUt
46L68rpVfvXwVS9eHXQXVxTpzCCAbgD4RNSZX7y8qG4fsLUt
yes
# 1
3.22 PHA
i think it will be good for both projects to grow
42VA...thWn
42VA...thWn
42VADtRdFebXhiYgnbTANBtRbXaZRCcTnxNLJATxyD3rthWn
yes
# 1
14.01K PHA
HydraDX is a great plat form for PHA.
42Xy...pS1B
42Xy...pS1B
42XyHqxQ5gf7cq2dEx1Am8qSrNAx5AFeRZEmoxvF152xpS1B
yes
# 1
0.85 PHA
I think so! “If they are not with us, they are against us”!
447N...EJQ6
447N...EJQ6
447NcBDhKMKQDWw1h7WJvGcgnw4QJsVqmJTcKJzG2fDPEJQ6
yes
# 1
4.18 PHA
4286...1tju
4286...1tju
4286Md5dwZXHyh2GPqWjm59nUuPyer2ytS83GsScMSUU1tju
yes
# 1
5.05 PHA
42G5...ptyH
42G5...ptyH
42G54erGDgXLzTD2vRFn6ha67V2igkBiTjX2WR7CYAReptyH
yes
# 1
23.03 PHA
41yy...1MAF
41yy...1MAF
41yyQZSWy6yjcLNsR19qA8JzpHUGBGtoB6yotTv9FNpq1MAF
yes
# 1
89.41 PHA

Discussions·0

No current comments
Information
Snapshot
Assets(3)
PHA
x1
PHA
x1
PHA
x1
Timestamp
Created
Nov 22 2023 17:33
Start date
Nov 22 2023 04:00
End date
Nov 29 2023 04:00
Results
Voted
31.25K PHA
Voters
17
balance-of
yes
31.25K PHA
 
no
0 PHA
 
quadratic-balance-of
yes
369.86 PHA
 
no
0 PHA
 
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